I have less than 1 EOS. Why can't I claim it?

The company behind the creation of EOS blockchain, Block.one, set a hardcoded limit to the minimum number of EOS an Ethereum address should hold in order for them to be migrated to the new mainnet. That limit was set to 1 EOS. Any address that held less than 1 EOS on June 2nd, 2018 unfortunately would not see that EOS migrated to the new blockchain.

This is how the EOS blockchain was designed and it affects all EOS holders, not just Exodus customers. The reason is that the EOS blockchain requires some EOS to be spent in order to create a new account. Specifically you need to buy RAM in order to be able to create new accounts. For people that had bought EOS before June 2nd, EOS mainnet gives 8 KB of RAM for free for the creation of their accounts on the new blockchain. However, during design of EOS mainnet it was decided that balances with less than 1 EOS would not be offered that free RAM and as a result these balances wouldn't migrate to mainnet. We don't know why Block.one decided to draw the line at 1 EOS; perhaps it was considered cost ineffective.

Will I be able to claim it at some point?

As of this moment there is no method to claim those balances. If such a method is developed in the future, the most likely scenario is that it will not create a new account but enable users to transfer their balance to an already existing account. Please understand though, that this is only speculation and no guarantee exists that any such method will be developed.

However, even if such a method is developed at some point, the creation of an account requires more than 1 EOS, which means it doesn't make sense financially to create an account just for that purpose. It only makes sense to use it if you already have an account with balance and don't want this small holding to go to waste.

So, how do I create an EOS account?

There are two ways to create an EOS account in Exodus: You can buy EOS using the built-in exchange or you can transfer EOS from an already existing account. Both these methods are described in detail in this article:

Creating a new EOS account name in Exodus